TC Energy (TSE:TRP) Price Target Raised to C$71.00 at National Bankshares

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective hoisted by National Bankshares from C$70.00 to C$71.00 in a research note released on Wednesday,BayStreet.CA reports.

TRP has been the topic of several other research reports. JPMorgan Chase & Co. boosted their target price on TC Energy from C$70.00 to C$79.00 in a research report on Monday, November 18th. BMO Capital Markets boosted their price objective on shares of TC Energy from C$55.00 to C$66.00 in a research report on Friday, November 8th. UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. Jefferies Financial Group upped their price target on shares of TC Energy from C$57.00 to C$66.00 and gave the company a “hold” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada raised their price objective on shares of TC Energy from C$67.00 to C$71.00 in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$69.54.

TC Energy Stock Down 0.7 %

TSE TRP opened at C$69.65 on Wednesday. The stock has a 50 day moving average price of C$65.01 and a 200-day moving average price of C$59.04. TC Energy has a one year low of C$43.83 and a one year high of C$70.32. The company has a market capitalization of C$72.44 billion, a P/E ratio of 21.04, a P/E/G ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.97 by C$0.06. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The firm had revenue of C$4.08 billion for the quarter, compared to the consensus estimate of C$3.90 billion. As a group, equities analysts predict that TC Energy will post 3.5490515 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.113 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, December 31st. This represents a $4.45 dividend on an annualized basis and a yield of 6.39%. TC Energy’s dividend payout ratio (DPR) is 116.01%.

Insider Transactions at TC Energy

In other news, Senior Officer Dawn Elizabeth De Lima purchased 545 shares of the stock in a transaction dated Tuesday, September 24th. The shares were acquired at an average cost of C$63.06 per share, for a total transaction of C$34,367.70. Also, Director Colin Lindley sold 3,194 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of C$68.70, for a total transaction of C$219,425.56. Following the transaction, the director now owns 697 shares of the company’s stock, valued at approximately C$47,883.41. This trade represents a 82.09 % decrease in their position. In the last quarter, insiders sold 214,476 shares of company stock valued at $14,299,929. Company insiders own 0.03% of the company’s stock.

About TC Energy

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.